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Florida 215 Exam Questions and Answers 100% Solved
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Exam of 9 pages for the course Florida general lines at Florida general lines (Florida 215 Exam)
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Florida 215 ExamA medigap policy is a Medicare supplement insurance policy sold by private insurance
companies to: - answer Fill the gaps in Medicare part a and b
Generally Noncontributory group health plans require what percentage of participation
by eligible members? - answer100%
Are there certain standards and procedures that must be followed in order to make
recommendations for annuity products to consumers age 65 and older? EXCEPT some
facts that must be collected from the senior consumer are ? - answer Personal
information, including the age and sex of the parties to the annuity and the ages and
number of dependents and the applicants annual income.
Which of the following ones below whole life policies provide level premiums limited to a
certain time period ? - answer Limited Pay Whole Life
Which of the following is an optional provision in Health Insurance ? - answer
Misstatement of age.
Any transaction in which new life insurance or an annuity is to be purchased and it is
known, or should be known to the agent, that existing life insurance or an annuity will be
amended to reduce benefits or coverage is covered under which regulation ? - answer
Replacement
Dollar Cost Averaging is considered : - answer An investment strategy for reducing the
impact of volatilely on large purchases of financial assets such as equities.
A life insurance company organized in Georgia with its home office in Kentucky is
licensed to conduct business in California. In California, this company is classified as : -
answer A foreign company
Florida Law requires an additional lapse notice be sent for individual life contract that
have been in force for at least one year and that covers persons : - answer64 years or
older
A variable annuity offers a plan : - answer( all of the above )
Based primarily on equity investments
That could negate the effects of inflation
To provide payments that can change monthly in dollar amount.
, When a life insurance policy beneficiary opts to receive interest only payments , the
insurance company can pay a ___ interest rate than the pre-established minimum rate.
- answerHigher
The suicide provision typically stipulates a ___ period of time in which the policy's death
benefit will not be paid if the insured commits suicide - answerTwo - year
The ________ is the amount the AD&D policy will pay as a death benefit if death is due
to an accident and the ______ is the amount payable for the accidental loss of eyesight
or accidental dismemberment. - answerPrinciple Sum, Capital Sum
A company that is incorporated in Florida and is conducting business in Florida is
considered ____ insurer - answerDomestic
Peter is insured under a 500,000 life insurance policy, and his wife Jennifer are instantly
killed in an accident. Under the Uniform Simultaneous Death Act, to whose estate would
the proceeds be paid ? - answerDivided equally between the both estates
Jane age 25 has just purchased a 20-pay whole life policy. When she turns 45, she will:
- answerCease paying premiums
Who designates the beneficiary of the life insurance policy? - answerPolicyowner
Brokers represent _____; agents represent _______. - answerInsured, insurers
Grandparents purchase a life insurance for their grandchildren, for whom they are the
legal guardians. Both perish in an accident some time later. Who collects the death
benefits ? - answerNo one, the insured
Which government legislation stipulates that an applicant for insurance must be
informed that a consumer report may be requested? - answerFair Credit Reporting Act
The nonforfeiture options are, except - answerExtended Term Option
The free look provision for life insurance policies is _ days from policy delivery. -
answer14
To provide a safeguard for insureds, most major medical policies contain a ______ that
limits the insured out of pocket expense. - answerStop-loss feature
Which of the following elements are insurable risk ? - answer(All of the above )
The loss must be definitive and measurable
The loss must not be catatrophic
the lost must be due to change
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